Flywire (NASDAQ:FLYW) Price Target Raised to $21.00

Flywire (NASDAQ:FLYW) had its price objective boosted by Morgan Stanley from $20.00 to $21.00 in a research note released on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

FLYW has been the topic of several other reports. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Flywire in a research note on Wednesday, October 2nd. Raymond James raised their price target on shares of Flywire from $23.00 to $27.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. BTIG Research decreased their price target on shares of Flywire from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Flywire from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company cut shares of Flywire from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $20.00 to $18.00 in a research note on Friday, October 11th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.86.

Flywire Price Performance

NASDAQ FLYW opened at $21.63 on Monday. The business has a fifty day moving average price of $17.46 and a two-hundred day moving average price of $17.49. The stock has a market capitalization of $2.71 billion, a PE ratio of 144.20, a PEG ratio of 5.66 and a beta of 0.95. Flywire has a fifty-two week low of $15.19 and a fifty-two week high of $31.54.

Insider Buying and Selling at Flywire

In other news, COO Rob Orgel sold 4,552 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total transaction of $82,118.08. Following the completion of the transaction, the chief operating officer now directly owns 477,472 shares in the company, valued at $8,613,594.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Flywire news, CTO David R. King sold 3,504 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $17.31, for a total transaction of $60,654.24. Following the sale, the chief technology officer now owns 616,680 shares of the company’s stock, valued at approximately $10,674,730.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Rob Orgel sold 4,552 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $18.04, for a total value of $82,118.08. Following the sale, the chief operating officer now owns 477,472 shares of the company’s stock, valued at approximately $8,613,594.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,966 shares of company stock worth $480,143. Insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Flywire

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in Flywire in the second quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of Flywire in the 1st quarter valued at $46,000. Daiwa Securities Group Inc. acquired a new position in shares of Flywire during the 2nd quarter valued at $64,000. Advisors Asset Management Inc. boosted its stake in Flywire by 15.4% during the third quarter. Advisors Asset Management Inc. now owns 4,046 shares of the company’s stock worth $66,000 after acquiring an additional 539 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Flywire during the third quarter worth $149,000. Institutional investors own 95.90% of the company’s stock.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company’s platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.